Investment Management Corp of Ontario Boosts Holdings in Chubb Limited (NYSE:CB)

Investment Management Corp of Ontario raised its stake in shares of Chubb Limited (NYSE:CB) by 43.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,829 shares of the financial services provider’s stock after buying an additional 3,900 shares during the quarter. Investment Management Corp of Ontario’s holdings in Chubb were worth $3,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. ORG Partners LLC purchased a new position in Chubb during the second quarter valued at $963,000. Moloney Securities Asset Management LLC increased its holdings in shares of Chubb by 97.9% in the third quarter. Moloney Securities Asset Management LLC now owns 3,851 shares of the financial services provider’s stock worth $1,111,000 after purchasing an additional 1,905 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of Chubb by 21.2% in the second quarter. Private Advisor Group LLC now owns 12,853 shares of the financial services provider’s stock worth $3,279,000 after buying an additional 2,250 shares in the last quarter. Savvy Advisors Inc. bought a new position in Chubb during the third quarter valued at approximately $721,000. Finally, Raymond James & Associates grew its holdings in Chubb by 2.9% during the 2nd quarter. Raymond James & Associates now owns 3,051,081 shares of the financial services provider’s stock valued at $778,270,000 after buying an additional 87,059 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Insider Activity

In other news, EVP Joseph F. Wayland sold 6,599 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $287.06, for a total value of $1,894,308.94. Following the completion of the transaction, the executive vice president now directly owns 84,101 shares of the company’s stock, valued at approximately $24,142,033.06. The trade was a 7.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Evan G. Greenberg sold 30,537 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $287.25, for a total value of $8,771,753.25. Following the sale, the chief executive officer now owns 583,982 shares of the company’s stock, valued at $167,748,829.50. This trade represents a 4.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,454 shares of company stock worth $19,446,155. 0.86% of the stock is currently owned by corporate insiders.

Chubb Stock Performance

Shares of NYSE:CB opened at $286.26 on Wednesday. The firm’s 50 day simple moving average is $287.18 and its 200-day simple moving average is $276.07. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.28 and a current ratio of 0.28. Chubb Limited has a one year low of $216.90 and a one year high of $302.05. The firm has a market cap of $115.39 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 6.75 and a beta of 0.67.

Chubb (NYSE:CB) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $5.72 earnings per share for the quarter, beating analysts’ consensus estimates of $4.98 by $0.74. Chubb had a return on equity of 15.46% and a net margin of 18.32%. The business had revenue of $13.83 billion during the quarter, compared to analyst estimates of $14.16 billion. During the same period in the previous year, the company posted $4.95 EPS. Chubb’s revenue was up 5.5% on a year-over-year basis. As a group, equities analysts predict that Chubb Limited will post 21.82 EPS for the current year.

Chubb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Friday, December 13th. Chubb’s dividend payout ratio (DPR) is 14.91%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wells Fargo & Company increased their target price on Chubb from $266.00 to $268.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price objective on shares of Chubb from $291.00 to $294.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods upped their target price on shares of Chubb from $305.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Morgan Stanley lifted their price target on Chubb from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Barclays assumed coverage on Chubb in a research report on Wednesday, September 4th. They set an “overweight” rating and a $349.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Chubb currently has an average rating of “Hold” and a consensus price target of $287.37.

Chubb Company Profile

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.